According to reports, Ethereum (ETH) whales have been stocking up on more Polygon (MATIC) and LINK (Chainlink) in the last 18 hours. This comes as both digital currencies see an astronomical surge in demand, especially within the last 24 hours.
Data aggregator WhaleStats stated that three of the top 1,000 ETH whales were responsible for three massive crypto transactions involving MATIC and LINK.
The first ETH whale, called “Kvothe,” with a wallet ranked 995th, purchased 2,700,000 MATIC worth around $3,483,000. With a wallet ranked higher at 335th, a second whale bought 896,990 MATIC, or $1,336,515. Lastly, the third whale, with the highest-ranked wallet of the trio at 35th, acquired 99,990 LINK, worth $1,364,863.
This development is part of a broader growing trend in the crypto marketplace that sees investors play the long-term game. Despite the recent crypto slump, investors of the digital currencies have been HODLing their tokens instead of panic selling to cut losses. Bitcoin (BTC) has seen a surge (12.6%) in current supply held for more than 10 years. Two days ago, a statement issued by Glassnode read:
“According to Glassnode, the supply of bitcoins that have been held for more than half a year has reached a record high, about 76.5%; the current supply of bitcoins that have been held for more than 10 years is about 12.6%, about 2.39 million BTC.”
Image Credits: Pixabay
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